舉了8個(gè)cases分別列了initial investment value, NPV, PI; Limited budget is 62000其中project D和E投資期限一個(gè)是2年一個(gè)是6年。而且D和E都是針對(duì)同一payroll的項(xiàng)目。其他項(xiàng)目比D和E晚投資一年。

  1. What is capital rationing?

  It exists when a firm sets a limit on the amount of founds to be invested during a given period

  It refers to when a firm has limited amount of money for investment,what projects should the company invest to maximize shareholder wealth

  2. Does the cases use capital rationing?問這個(gè)Senario里面是否有Captial rationing?

  3. Which projects should be selected? why?

  應(yīng)該是選C, D, F, H, 因?yàn)檫@4個(gè)PI*6,investment 總額正好=62Mn 應(yīng)該是npv*5

  4. What is independent project? What is mutually exclusive project?題目中那些是independent 那些是 mutually exclusive

  mutually exclusive projects:

  a situation where the occurrence of one event is not influenced by another event. In addition, it is impossible for mutually exclusive events to occur at the same time.

  independent projects :

  has unrelated cash flow .independent projects decisions are those which does not bear any effect on the other investment decisions

  5. Project D & E兩個(gè)案子原始投資額相近,NPV相近,但投資年限不同(一個(gè)兩年,一個(gè)六年),請(qǐng)問投資年限如何影響決策?這個(gè)案子該如何決策?

  special adjustment need to be made to equalize the life  of the project before NPV can be calculated if there is a conflict in ranking between npv and irr npv is preferable.

  6. Use which method could rank the projects.選投資項(xiàng)目是用什么方法?

  Use PI to maximize NPV

  7.NPV method和PI method使用上有什么差別。在這個(gè)案例上如何使用?哪些使用NPV哪些使用PI?并ranking之.

  一般都是用NPV的 特別是互斥項(xiàng)目時(shí) 一定用NPV 不用PI,其他情況下雙方都是一致的選擇。
 

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